Revenue Increase of 384% over comparable 9-month 2020 period
VANCOUVER, BC, July 28, 2021 /CNW/ - Imagine AR Inc. (CSE: IP) (OTCQB: IPNFF) ("ImagineAR" or "Company") an Augmented Reality Company that enables businesses, sports teams and organizations to create instant global AR mobile phone campaigns without a technical background, is pleased to provide a corporate update to investors.
Quarterly Financial Statement Filed for May 31, 2021.
The Company maintains a cash position of $5,297,395 which is enough to fund current company operations at its current level thru 2022. Revenue has increased 384% over the comparable nine month period for last fiscal year 2020. With the commercialization of the company's SDK and the White-Label Mobile app products, the focus has been on entering into multi-year license agreement with sports and commercial clients.
Club Atletico Mineiro has successfully launched the ImagineAR SDK Version 1.3 integrated into their mobile app. The kick-off AR campaign featured green screen videos of players delivered around the world, had over 12,000 interactions within 24 hours and a 3000% registration increase per day. The Club also announced a new custom team shirt with over 100,000 orders in a week which will also include immersive AR experiences.
Global Sports Initiatives has successfully launched its white-label mobile app SportIn in both the IOS and Android mobile app stores.
World Tens Series has been postponed due to the pandemic and the competition will be reschedule in the future.
Shopper's Drug Mart, in partnership with HumanContact Inc., successfully delivered another interactive and immersive AR training session with their custom white-label mobile app.
Real Sociedad is expected to launch the ImagineAR SDK Version 1.3 integrated into their mobile app in August.
White-Label mobile apps for Automotive Industries Publication, BlackOwned, and HumanConnect are in development and now expected to be released in Fall 2021.
Imagine AR Inc. (CSE: IP) (OTC: IPNFF) has developed ImagineAR.com; an "AR-as-a-Service" platform for desktops that enables businesses of any size to create and implement their own AR campaigns with no programming or technology experience. Every organization, from professional sports franchises to small retailers, can develop interactive AR campaigns that blend the real and digital worlds using ImagineAR. Customers simply point their mobile device at logos, signs, buildings, products, landmarks and more to instantly engage with videos, information, advertisements, coupons, 3D holograms and any interactive content, all hosted in the cloud and managed using a menu-driven portal. Integrated real-time analytics means that all customer interaction is tracked and measured in real-time. The ImagineAR mobile app is available in the IOS and Android mobile app stores. The platform is available as a native mode SDK.
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ON BEHALF OF THE BOARD
Alen Paul Silverrstieen
President & CEO
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein may include, but is not limited to, information concerning the ability of the Company to generate revenues, roll out new programs and to successfully achieve business objectives, and expectations for other economic, business, and/or competitive factors.
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements. In addition, in connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information and statements are the following: changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
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SOURCE ImagineAR Inc.
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